Not actually having the full amount of capital…Michael Saylor How Many Bitcoin… so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you actually get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has said they’ve made profit 14 months in a row invest in these options since you believe is the right ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly important you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then might not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you really begin buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges truly important to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling fine so commission fees are free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a cost to remember the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they in fact giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say give me us dollars rather you need to pay their fees now the excellent thing about though when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great utilizing that part of their site won’t definitely limit you in any way however we need to know 2 other charges the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor How Many Bitcoin.
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